We Need to Extend Economic Aid to the Unemployed Immediately

A few days ago I noted that low-income workers were still spending a lot, thanks largely to assistance from the CARES program, but they’re also still unemployed at high levels. My evidence was a little indirect, though, so I’m happy to present direct evidence for this based on data from Raj Chetty’s economic tracker. Here’s consumer spending:

The lowest income group has been spending at pre-pandemic levels since June, while the highest income group is still holding back. But here’s employment:

Low-wage workers are still far below their pre-pandemic levels of employment, while high-wage workers are back to normal and even mid-wage workers are close to normal.

Today, economists at Goldman Sachs became the latest to issue a warning that economic recovery will falter if Congress doesn’t provide more federal aid. That’s nearly a unanimous view these days, but these charts make it clear what kind of federal aid we need: not broad-based stimulus, but specific assistance to those who have lost their jobs. Let’s get with it.

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

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